Manila: The Bangko Sentral ng Pilipinas (BSP) anticipates inflation for April to range between 5.6 percent and 6.4 percent, citing the impact of increased food and fuel prices.

According to Philippines News Agency, the BSP highlighted that inflation risks have heightened due to rising domestic petroleum prices, increased costs of essential food items including rice, fish, and meat, along with higher electricity charges and the depreciation of the peso. In a statement released Thursday, the central bank acknowledged that while the easing prices of vegetables and fruits might help mitigate overall inflation, the persistence of upward pressures requires careful observation.

The BSP emphasized its commitment to remain vigilant, basing its decisions on forthcoming data related to inflation and economic growth. The institution also mentioned it is closely observing developments in the Middle East to assess potential impacts on inflation and broader economic conditions.

In March, the inflation rate was reported at 4.1 percent. The Philippine Statistics Authority is scheduled to disclose the inflation data for April on May 5.